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XRP is facing a rocky week, as it dropped over 7% and slipped below key levels. Technical signals show selling pressure, but despite short-term weakness, there are some bullish signals.
XRP’s Technicals Show Bearish Picture
XRP slipped below its key support at $2.23 on Friday, dropping 4.65%, and is now hovering around $2.15. If the price fails to climb above $2.23, then it could further fall to $1.96.
Technical indicators show that XRP is under pressure. The 24-hour trading volume dropped by 37% to $1.51 billion, showing cooling interest in the spot market. Futures activity also slowed, with volume down 37.85% and open interest dipping to $3.9 billion, as per data from Coinglass.
The RSI is at 40.82 is close to oversold levels, but no signs of reversal yet. Most moving averages signal sell, except the 200-day EMA, which still supports the long-term trend. The MACD also remains bearish. If XRP bounces back, it could retest the 50-day EMA near $2.27.
XRP has shown market indecision with a “doji” candlestick, indicating that the recent rally might be losing steam. Despite this, the bullish bets remain high on Deribit, with many traders holding call options between $2.60 and $3+, which shows confidence in a price rise. The most popular call is at $4, with big upside expectations.
XRP Long-Term Prediction
Analyst Dark Defender recently shared that XRP is building a new weekly wave pattern, pointing to a surge toward $18.22–$23.20 soon. The $5.85 level is a key mid target. This follows the same pattern from November 2024.
Some analysts say XRP could jump to $25–$75 by mid-2025 thanks to new projects, legal updates, and ETFs creating supply shortages. While others expect a more conservative rise to $8–$10 by the end of the year, due to its growing institutional appeal.